Aust stocks set to open higher

The Australian market looks set to open higher following record highs on Wall Street after the Federal Reserve unexpectedly kept its stimulus measures intact.

At 0732 AEST, the September share price index futures contract was up 61 points at 5,305.

The Dow Jones Industrial Average jumped 147.21 points to 15,676.94, 18 points above the previous record set on August 2 while the broad-based S&P 500 surged 20.76 points to 1,725.52, besting the previous high, also hit on August 2, by nearly 16 points.

The tech-rich Nasdaq Composite Index rose 37.94 to 3,783.64.

All three indices rebounded from falls after the Fed's surprise announcement it was keeping its $US85 billion-a-month bond-buying program in place.

In local economic news, the Reserve Bank of Australia is due to release its quarterly bulletin.

In equities news, Brickworks (BKV) and Washington H Soul Pattinson (SOL) are expected to post first half results while Oroton Group releases its full year results.

In Australia, the market closed weaker as cautious investors waited for direction from the US Federal Reserve on its stimulus program for the world's biggest economy.

The benchmark S&P/ASX200 index was 13.1 points, or 0.25%, lower at 5,238.1.

The broader All Ordinaries index was down 14.8 points, or 0.28%, at 5,230.4.